Regulators probing alleged mortgage insurance kickback scheme

The CFPB settles accusations against four private mortgage insurers that they improperly kicked back money to lenders. Jim Puzzanghera, Los Angeles Times Federal regulators are conducting an extensive investigation into an alleged mortgage insurance kickback scheme that pushed up costs for home buyers dating from the mid-1990s. The Consumer Financial Protection Bureau, in disclosing its first […]

NYS Holds Hearing On Forced-Placed Insurance

Greg B. Smith, NY Daily News UNEMPLOYED SOCIAL worker Mary Burton had never heard the term “forced place insurance” when the monthly mortgage payments on her modest Staten Island home suddenly shot up from $864 to $1,297. Her homeowner’s insurance had lapsed, and her lender, Citibank, had automatically tacked on new — much more expensive — insurance […]

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